The city of Norwood, Ohio, is one of the oldest suburbs of Cincinnati, known for its tree-lined streets and wooded areas. For decades, Norwood was home to a factory that made Sears Catalog Homes. Today, a major manufacturing company is moving into the former site, and the U.S. Playing Card Company plans to return to their former headquarters.
Development is gaining momentum in the West Side near downtown and the United Center, and potential buyers have been eyeing vacant land further west. While these new developments should create more middle-income housing options, they shouldn't push out current residents. Moreover, many of the new homes will be affordable only to people earning below a certain income level. It's important to note that Sears City won't be affordable to people at the higher end of the income spectrum.
The company has grown significantly since its formation in 1892. The successful 1906 initial public offering marks the first major retail IPO in American history, and it represents the coming of age of the consumer sector. The company's stock traded under the ticker symbol S, and was a part of the Dow Jones Industrial Average from 1924 until 1999. In addition to introducing its first clothing line, Sears also expanded its product line.